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Indian Rupee Jumps To 2-Month High On Upbeat Risk Appetite

15 November 2018 / Evening Brief

Indian Rupee

  • The rupee settled at 71.98 against 72.3050 at the previous close. The local unit moved in 71.98-72.19 per dollar band intra-day.
  • The Indian rupee gained for a third consecutive session to end at a two-month high against the dollar, as investors’ appetite for risk assets improved amid hopes that the U.S. and China can resolve their trade differences. The rupee opened higher as most Asian currencies gained after the dollar index fell below 97 again. Risk-on rally in global markets further supported the local unit,

Global Currency

  • The dollar jumped and traders bought into the safe-haven yen on Thursday after Britain's Brexit deal with the European Union was plunged into uncertainty, spooking investors across currency markets. The resignation of a series of British ministers in opposition to the newly-agreed Brexit withdrawal deal sent sterling plummeting more than one percent. Raab's resignation leaves May battling for survival as well as trying to win over her Conservative Party to support the EU withdrawal agreement.
  • The euro, after earlier trading 0.3 percent higher, fell 0.2 percent to $1.1291 EUR= .Sterling shed as much as 1.7 percent versus the dollar to below $1.27 GBP= and 1.5 percent versus the euro to 88.44.

Global Markets

  • Oil prices steadied on Thursday, having lost nearly 7 percent over the previous three days, but concern over the prospect of an oversupplied market next year remained in spite of OPEC's message that it may cut crude output.
  • Gold prices held steady on Thursday, after rising nearly a percent in the previous session, as the dollar retreated further from a 16-month peak against a basket of currencies.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 72.37 73.005 -0.45
EUR/USD 1.13025 81.36 -0.57
GBP/USD 1.2796 92.04 -2.04
USD/JPY 113.491 0.63 -0.37
SEK/INR 8.9953 8.0453 -0.0423
DKK/INR 6.447 11.2250 0.49
AUD/USD 1.3828 52.28 -0.4
DXY 97.161 0.37
Index Today % Change
NIFTY 10616.7 0.38
SENSEX 35260.54 0.34
NIKKEI 21803.62 -0.2
HANG SENG 26103.34 1.75
SHANGHAI 2668.1704 1.36
CAC# 5050.67 -0.36
FTSE # 7264.61 0.0042
DAX # 11411.61 -0.01
Commodities Today % Change
GOLD # 1209.76 -0.09
SILVER# 14.055 0
BRENT # 66.58 0.7
NYMEX # 56.25 0
Today Today
OPEN 72.0600
HIGH 72.1900
LOW 71.8650
CLOSE 71.9800

Key Events of the Day

Date Time Currency Event Actual Forecast Previous
15-11-2018 15.00 GBP Retail Sales (MoM) (Oct) -0.5% 0.2% -0.4%

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